InfraRed lands London industrial estate in €223m logistics push

Global institutional fund manager InfraRed Capital Partners has purchased an industrial estate in London for €24.5 mln.

Located in Sidcup, in the south-east of the capital city, the core-plus asset spans 32,000 m2. InfraRed bought it as part of its €223 mln urban logistics strategy.

Welcoming the purchase, James Cooper, company director, said: ‘We are seeing a clear trend towards more intensive and higher value uses in these buildings.

‘This not only includes last mile servicing and click and collect but also leisure, food preparation and other services, providing the basis for superior rental performance.’

Henry Giles, portfolio manager at InfraRed Capital Partners for its core-plus urban logistics strategy, said: ‘We intend to carry out an active management plan to unlock embedded value and to grow income distribution.

‘This will include upgrading the overall estate management, improving the quality of the units and renewing leases with superior terms.’

Colliers, Taylor Wessing and Paragon acted for InfraRed.

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